T Rowe Price Gets a Hold Rating from KBW

By Jason Carr

KBW analyst Robert Lee reiterated a Hold rating on T Rowe Price (NASDAQ: TROW) yesterday and set a price target of $71. The company’s shares closed last Friday at $69.70.

According to TipRanks.com, Lee is a 5-star analyst with an average return of 7.8% and a 70.1% success rate. Lee covers the Financial sector, focusing on stocks such as Apollo Global Management LLC, Oaktree Capital Group Llc, and SEI Investments Company.

Currently, the analyst consensus on T Rowe Price is Hold and the average price target is $72.33, representing a 3.8% upside.

In a report issued on May 24, Credit Suisse also reiterated a Hold rating on the stock with a $63 price target.

Based on T Rowe Price’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.16 billion and quarterly net profit of $377 million. In comparison, last year the company earned revenue of $994 million and had a net profit of $290 million.

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T. Rowe Price Group, Inc. is a financial services holding company, which engages in the provision of investment advisory services. It provides an array of company sponsored U.S. mutual funds, other sponsored pooled investment vehicles, subadvisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries, and retirement plan sponsors. The company was founded by Thomas Rowe Price Jr. in 1937 and is headquartered in Baltimore, MD.